India, July 25 -- Intel, the giant chipmaker, has revealed plans to lay off more employees in an effort to reduce its global manufacturing footprint and streamline operations.

The company anticipated "workforce reductions and attrition" to bring its headcount down to 75,000 by the end of 2025, as per a memo issued to staff on Thursday by CEO Lip-Bu Tan, Newsweek reported. This is in contrast to the 108,900 workers Intel claimed to have at the end of the previous year in an annual report submitted to the SEC.

Lip-Bu Tan, who took over in March as chief executive officer of Intel Corporation, stated that the firm will be halting the development of new plants in Ohio and ditching previously halted production projects in Germany and Poland ...